D:\RRC\Courses\Online\Cost Accounting 12th CE\Videos\[Chapter 6 Tropic Breeze Fans Example.xlsx]WA Solution
Tropic Breeze Fans
Electrics and Testing Department
Weighted-Average Method - May
Equivalent Units of Production
Total EU
Units transferred to the next department
Work in process, May 31:
4,800
Materials
4,800
4,800
400
400 units x 40% complete
160
400 units x 25% complete
Equivalent units of production
Conversion
100
5,200
4,960
4,900
Total Cost
Materials
Work in process, May 1:
$15,175
$9,600
$5,575
Costs added in department (E&T)
719,500
368,600
350,900
$734,675
$378,200
$356,475
4,960
4,900
$76.25
$72.75
Cost per Equivalent Unit
Conversion
Costs to be accounted for:
Total Cost (a)
Equivalent units of production (b)
Cost per EU (a) / (b)
Cost Reconciliation
Total Cost
Materials
$715,200
4,800
12,200
160
Conversion
Costs accounted for as follows:
Transferred to the next department
4,800 units x $149.00 each
4,800
Work in process, May 31:
Materials at $76.25 per EU
Conversion at $72.75 per EU
Total work in process, May 31
Total Cost
7,275
19,475
$734,675
100
$149.00
D:\RRC\Courses\Online\Cost Accounting 12th CE\Videos\[Chapter 6 Tropic Breeze Fans Example.xlsx]WA Solution
Tropic Breeze Fans
Electrics and Testing Department
Schedule of Cost of Goods Manufactured
For the Month Ended May 31, xxxx
Raw Materials
$368,600
Direct Labour and Manufacturing Overhead
350,900
Total Manufacturing Costs
719,500
Add: Beginning Work in Process Inventory
15,175
734,675
Deduct: Ending Work in Process Inventory
Cost of Goods Manufactured
19,475
$715,200